Sonoco ThermoSafe is a leading global provider of temperature assurance packaging for pharmaceutical distribution. The company is building a vendor-neutral, industry-scale blockchain platform, PharmaPortal™, that will enable pharmaceutical manufacturers and carriers to collaborate on the safe delivery of biologics, vaccines and other temperature-sensitive products.
The openly governed network, built on IBM Blockchain Transparent Supply, will focus on end-to-end traceability and provide an audit trail of environmental condition monitoring. As the network convener, Sonoco’s objective is to create a permissioned platform for the industry that will ultimately create more visibility and transparency across the pharmaceutical supply chain.
"Only through the collaborative efforts of all members of the temperature-controlled pharmaceutical distribution process can we achieve the safety and efficiency that the world needs from us in this critical time," says Howard Coker, president and CEO of Sonoco. "An effort of this magnitude requires a high level of industry engagement to make a meaningful difference in the lives of people around the world."
Despite improvements, the cold chain pharmaceutical supply chain still suffers from inefficiencies. Multiple handoffs across contracted and sub-contracted handling agents across continents create a crucial need for trusted, end-to-end visibility of pharmaceutical shipments, conditions and documents. With blockchain's inherent ability to trace drug provenance and create an immutable record of the lifecycle of a drug and how it was handled, this open industry initiative addresses the challenges the pharmaceutical industry faces, both in sourcing and distributing drugs. Learn more about Sonoco’s collaboration with IBM.